logo
Plus   Neg
Share
Email

Shiner International Full-year Profit Down

Shiner International Inc. (BEST) said its net income for fiscal 2011 fell significantly to $1.7 million from $4.2 million, mainly due to increased labor costs, R&D expenses, depreciation of the new property and no other income from a former landlord offset by an increase in subsidy income. Earnings per share for the year were $0.06, versus $0.17 a year ago.

Shiner's revenue for the year rose 29.4% to $75.3 million from $58.2 million in 2010, helped primarily by an increase in domestic product volume.

Qingtao Xing, Shiner's President and CEO, stated, "In 2012, we will continue to develop new market and expand our market share both in China and abroad with our efforts. By investing in our R&D's innovation and the high-end facility, we expect to achieve better operational performance and financial prospect in 2012."

by RTTNews Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Shares of Airbus Group SE were losing around 2 percent in the morning trading in Paris after the Aerospace and defense major reported Friday a sharp decline in its first-quarter profit as revenues were hurt by weak deliveries. Further, the company confirmed its forecast for fiscal 2018 adjusted EBIT, a key earnings metric. Bill Harris, Co-founder and former CEO of Paypal, claims Bitcoin to be the greatest scam in history. Harris wrote his opinion on Bitcoin in an opinion piece was published in Recode. "In my opinion, it's a colossal pump-and-dump scheme, the likes of which the world has never seen," Harris said. Amazon.com Inc. (AMZN) Thursday reported a first-quarter profit that more than doubled from a year ago, driven largely by a huge 46 percent growth in revenues. Shares of the online retailer gained 6 percent in extended session. Seattle, Washington-based Amazon reported first-quarter profit of $1.63...
Follow RTT